Project Finance

Société de Promotion et de Participation pour la Coopération Economique, Kreditanstalt Für Wiederaufbau, Société Générale and DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH, as lenders, in a project finance for approximately US$ 234 million for the construction, operation and maintenance of a 208 MW photovoltaic power project of Neoen S.A., located in the province of Salta, Argentina. The financing was granted under the RenovAr renewable energy program in Argentina (2019).

Banco de Galicia y Buenos Aires as arranger in bilateral loan through a Green Bond subscribed by IFC for US$ 30 million for the construction of Grupo Insud “Central Térmica San Alonso” located in the province of Corrientes, Argentina. The financing was granted under the RenovAr renewable energy program in Argentina (2019).

IFC – International Finance Corporation, Inter-American Investment Corporation (IIC) and Rabobank, as lenders, in a project finance of US$100 to San Miguel Global, the largest citrus exporter in the southern hemisphere .The funds will be used to finance capital investments, working capital needs and expansion of San Miguel’s operations (2018).

Certain private investors and J.P. Morgan Securities LLC , as arranger, in the issuance of global notes guaranteed of Rio Energy S.A., UGEN S.A. and UENSA S.A. -MSU Energy companies- for an amount of US$ 250 million due in 2023. The proceeds of the issuance will be used by the Companies for the expansion and conversion of its facilities. Citibank N.A. acted as notes agent, paying agent and registrar, and Citibank, N.A. Argentina as collateral agent and trustee (2018).

Inter-American Investment Corporation, KFW, KFW IPEX-BANK and EKF Denmark’s Export Credit Agency, as lenders, in a project finance for an aggregate amount of US$ 108 million granted for the construction, operation and maintenance of the Bicentenario 125.2 MW renewable wind energy power plant located in the Province of Santa Cruz, Argentina. The financing was granted under the RenovAr renewable energy program in Argentina (2018).

EKF Denmark’s Export Credit Agency and Citibank, N.A. in a loan for an aggregate amount of US$ 122 million granted to Aluar Aluminio Argentino S.A.I.C. to the development of the 60MW El Llano Phases II and III wind farm project located in the province of Chubut, Argentina (2018).

Corporación Andina de Fomento, EKF Denmark’s Export Credit Agency, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. and Sumitomo Mitsui Banking Corporation in a project finance for a total amount of US$ 130 million granted to Genneia for the development and construction of the wind farms Chubut Norte I and Villalonga. The financing was granted under the RenovAr renewable energy program in Argentina (2018).

CP La Castellana S.A.U. and CP Achiras S.A.U., affiliates of Central Puerto, and CP Renovables S.A., subsidiary of Central Puerto, in a project finance for an aggregate amount of US$ 150.7 million to develop two wind farms of jointly 148 MW. The financing was granted under the RenovAr renewable energy program in Argentina (2018).

GNNW SBS FCIC GANADERO W86, as issuer, SBS Asset Management Sociedad Gerente de Fondos Comunes de Inversión S.A., as co-organizer and placement agent of the Shares, Banco de Valores S.A., as co-organizer of the placement of the Shares, and Gregorio, Numo y Noel Werthein S.A.A.G.C.e I., as manager, in the creation and launch of the first livestock closed mutual investment fund “GNNW SBS FCIC GANADERO W86” for a total nominal value of AR$ 360 million (approximately US$ 20 million) (2017).

Banco de Galicia y Buenos Aires S.A. and HSBC Bank Argentina S.A. as a lenders in a project finance for Simplot Argentina S.R.L. and San Fili S.A. (and secured by Campos Los Ranchos S.A.), executed on October 5th, 2017. The resources will be destined to Simplot Project, which consists in the acquisition of the machinery and construction of a plant in the province of Mendoza (2017).

Inter-American Investment Corporation (IDB Invest), Banco Santander and Industrial and Commercial Bank of China in a US$ 104 million financing package granted to Greenwind S.A. -a subsidiary of Pampa Energía S.A.- for the 100.05MW El Corti wind farm in Bahia Blanca, Argentina. The loan was one the first financings granted by international lenders to a project developed under the RenovAr renewable energy program in Argentina (2017).

Industrial and Commercial Bank of China (Argentina) S.A. and Banco de Galicia y Buenos Aires S.A., acting as arrangers of syndicate of local banks, and with the support of General Electric Company acting as EPC Off-Shore and On-Shore Contractor, in two syndicated loans to UENSA S.A. and UGEN S.A. (both affiliates of MSU Energy Group) in the amount of US$ 230 million for the construction, operation and maintenance of two thermoelectric power plants (2017).

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Export Development Canada, as arrangers, in the secured financing from international banks to two affiliated companies of YPF S.A. and General Electric (GE) for the construction, operation and maintenance of two fast power thermoelectric power plants for an amount of US$ 219.5 million. The loan proceeds will be used to finance the construction and operation of two thermoelectric power plants (fast power) with a capacity of 267MW in “El Bracho”, province of Tucumán, and 107MW in “Loma Campana”, province of Neuquén. This is the first limited recourse project financing in over a decade (2017).

Cohen S.A., as managing agent for collective investment products and placement agent, on the creation of the real estate closed mutual “FCIC Inmobiliario Al Río Ley 27.260” established under the tax amnesty regime pursuant to Law No. 27,260. The fund will finance (i) the completion of the Docks and South Tower Project, commercial real estate developments, (ii) the development of the Cube Project, which entails the construction of a commercial icon that will become part of the access to the “Centro Comercial Al Río”; and (iii) the development of the Commercial Center Project, which entails the construction of a commercial center, all of which are located in the premises “Al Río” in Vicente López, Buenos Aires. Deutsche Bank S.A., acted as custodian agent for collective investment products, and Ribera Desarrollo S.A., as developer (2017).

Banco Macro, SBS Trading Macro Securities and Banco de Servicios y Transacciones, as arrangers, placement makers and fiduciary agent for the offering, in a hybrid project finance worth US$ 26 million to upgrade a thermal power plant in the province of Santiago del Estero of a subsidiary of Argentine energy investment platform Grupo Albanesi (2014).

Energía Argentina S.A., Nación Fideicomisos S.A. and Banco de Galicia y Buenos Aires S.A. as arrangers of the Financial Trusts “ENARSA-BARRAGÁN” and “ENARSA-BRIGADIER LÓPEZ” for the issuance of trust securities in an aggregate amount of US$690 million and US$350 million, respectively (2011).

Banco Macro S.A. and Macro Securities S.A. Sociedad de Bolsa in the issue of trust securities by the Financial Trust “Loma Blanca Serie I” for an aggregate amount of US$103 million, proceeds that shall be used for the construction and commissioning of the first of four wind farms of 50MW (fifty megawatts) which will be located in the Municipality of Trelew, Province of Chubut. Isolux Corsán Energías Renovables S.A., company in charge of the project, was the issuer of the private bonds which constitute the underlying assets of the financial trust. Isolux Corsán Argentina S.A. and Isolux Ingeniería S.A. acted as trustees, Nación Fideicomisos S.A. acted as trustor, Banco Macro S.A. participated as arranger and organizer, and Macro Securities S.A. Sociedad de Bolsa acted as placement agent through the DTN’s public offering (2011).

Nación Fideicomisos S.A., arranger of the transaction, in a US$117.6 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2011).

Nación Fideicomisos S.A., arranger of the transaction, in a US$480,8 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2011).

Nucleoeléctrica Argentina S.A. -as trustor-, Nación Fideicomisos S.A. -as trustee-, Banco Macro S.A. -as arranger-, and Macro Securities S.A. Sociedad de Bolsa -as placement agent- in the issuance of a new series of trust securities under the Financial Trust “NASA” for an aggregate amount of approximately US$407 million (2011).

Nación Fideicomisos S.A., arranger of the transaction, in a US$204 million trust securities issuance by an infrastructure trust managed by Banco de la Nación Argentina as trustee for the financing of the Argentina’s Master Plan of Water Resources (2011).

Nación Fideicomisos S.A., arranger of the transaction, in a US$263 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2010).

Nación Fideicomisos S.A., arranger of the transaction, in a US$100 million trust securities issuance by an infrastructure trust managed by Banco de la Nación Argentina as trustee for the financing of the Argentina’s Master Plan of Water Resources (2010).

Nación Fideicomisos S.A., arranger of the transaction, in a US$218 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2010).

Nación Fideicomisos S.A., arranger of the transaction, in a US$155 million trust securities issuance by an infrastructure trust managed by Banco de la Nación Argentina as trustee for the financing of the Argentina’s Master Plan of Water Resources (2010).

Nación Fideicomisos S.A., arranger of the transaction, in a US$77,9 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2010).

Nación Fideicomisos S.A., arranger of the transaction, in a US$395 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan (2009).

Nación Fideicomisos S.A., arranger of the transaction, in a US$78 million trust securities issue by an infrastructure trust managed by Banco de la Nación Argentina as trustee and having certain oil tax collections as underlying asset, that will finance the first stage of Argentina’s US$1 billion federal roads plan during 2009 / 2010 (2009).

Banco de la Provincia de Córdoba S.A., as arranger of what is considered the first energy infrastructure project being financed by the government’s pension funds administrator as lender, in the US$300 million loan from the Fondo de Garantía de Sustentabilidad del Régimen Previsional Público de Reparto -part of the government’s pension funds administrator ANSES (Administración Nacional de la Seguridad Social)-, to Empresa Provincial de Energía de Córdoba, a leading player in the production, transport and distribution of electricity (2008).

ABN AMRO Bank N.V., ABN AMRO Bank N.V., Sucursal Argentina and Banco Macro S.A., in a US$44,3 million loan granted to Argentine power company Emgasud, to finance the acquisition, construction and operation of four electricity and power production facilities from gas-oil and natural gas, which will operate 11 TM 2500 mobile power units and 2 Taurus 60 mobile power units for the supply of energy in accordance with the Energía Distribuida II Programme (Licitación II ENARSA N° 002/2007) (2008).

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